Health Savings Accounts for Businesses

If your business offers employees a High Deductible Health Plan (HDHP), your employees may be eligible to contribute to a Health Savings Account (HSA).  To get started, your employee will open a LifeSavings HSA account with Monona Bank.  Through a defined amount that you offer your employees, or a dollar amount the employee chooses, you easily send these contributions by direct deposit to the employee’s LifeSavings HSA account.  This process is identical to any other direct deposit you currently process.  It’s easy and convenient for both you and your employee and it allows you to offer another important benefit to your employees.

Benefits to Using Monona Bank as Your Preferred HSA Partner

  • Like You, We Keep It Local – HSA account benefits are mandated by the government which means convenience, fees and relationships make the biggest difference when choosing a HSA vendor.
  • Convenient Access to Banking Advisors – Just like you experienced when you opened your business account with Monona Bank, you can be confident we’ll provide the same high level of service to your employees.  Your reputation with your employees is important to us.
  • No Account Minimums or Low Balance Fees – Help your employees get the best possible deal.  Account holders shouldn’t have to worry about these fees as they grow and use their deposits.
  • Easy Account Access – Your employees will have access to their funds with an HSA VISA® Debit Card.  Checking account clients can even transfer money between accounts online for more convenience.  Of course, distributions can always be made in-person at any of our nine convenient locations.

Contact your Business Banker or one of our experienced Consumer Banking Advisors to get started today.